Arrays Vs. Lists is a classic maintainability vs. performance problem. The rule of thumb that nearly all developers follow is that you should shoot for both, but when they come in to conflict, choose maintainability over performance. The exception to that rule is when performance has already proven to be an issue. If you carry this principle in to Arrays Vs. Lists, then what you get is this:
Use strongly typed lists until you hit performance problems. If you hit a performance problem, make a decision as to whether dropping out to arrays will benefit your solution with performance more than it will be a detriment to your solution in terms of maintenance.